Categories
Search
 

Web

TigerShark
Popular Authors
  1. Dave Mecklenburg
  2. Momentum Trader
  3. Candlestick Trader
  4. Stock Scalper
  5. Pullback Trader
  6. Breakout Trader
  7. Reversal Trader
  8. Mean Reversion Trader
  9. Frugal Trader
  10. Swing Trader
  11. Canslim Investor
  12. Dog Investor
  13. Dave Landry
  14. Art Collins
  15. Lawrence G. McMillan
No popular authors found.
Website Info
 Free Festival of Traders Videos
Article Options
Popular Articles
  1. A 10-Day Trading System
  2. Use the Right Technical Tools When You Trade
  3. Which Stock Trading Theory Works?
  4. Conquer the Four Fears
  5. Advantages and Disadvantages of Different Trading Systems
No popular articles found.
Mixed Close On Options Expiration Day
By Harry Boxer | Published  12/17/2010 | Stocks | Unrated
Mixed Close On Options Expiration Day

The stock market indices ended mixed on the session on options expiration day. The technicals were slightly positive, and a lot of individual stocks we watch actually had a fairly strong session.

The day started out with some back-and-forth action. The indices moved up mid-morning, formed a consolidation just after lunch, and then moved up to the session highs, reaching near 1246 S&P 500 and 2227 on the Nasdaq 100. They rolled over in the last hour, bouncing just in the last 5-10 minutes.

Net on the day, the Dow was down 7.34 at 11,491.91. The S&P 500 was up just 1.04 at 1243.91, just 2 points off the high, and the Nasdaq 100 up 0.27 at 2218.29, about 9 points off its high.

So a mixed picture today.

Advance-declines were about 17 to 13 1/2 positive on the New York Stock Exchange and positive by about 120 issues on Nasdaq. Up/down volume was 4 to 3 positive on New York with a total volume of nearly 2 billion shares traded. Nasdaq traded 2.7 billion shares and had a 15 to 12 positive ratio.

Again, a mixed picture on options expiration day.

TheTechTrader.com board had quite a few strong movers today. Leading the way by far was InterMune Inc. (ITMN), which on positive drug approval jumped to 35.00, up 20.73. We traded that for between 8 and 9 points during the course of the session.

Take-Two Interactive Software Inc. (TTWO) was up 1.00 to 12.94, and Kandi Technologies Corp. (KNDI) up 90 cents to 6.13 on positive news, a 17% gain. Nymox Pharmaceutical Corporation (NYMX), another big mover today, rose 2.22 to 6.68, a 50% pop on positive news.

In addition, Polypore International Inc. (PPO) gained 2.27 to 44.04, RealD Inc. (RLD) 1.41 to 27.82, Travelzoo Inc. (TZOO) 2.38 to 42.45, Camelot Information Systems Inc. (CIS) 1.97 to 22.36, Finisar Corp. (FNSR) 99 cents to 28.99, Ixia (XXIA) 1.27 to 18.12, HiSoft Technology International Ltd. (HSFT) 2.56 to 28.71, ADA-ES, Inc. (ADES) 2.07 to 9.77, MKS Instruments Inc. (MKSI) 1.38 to 24.16, Auxilium Pharmaceuticals Inc. (AUXL) 1.27 to 22.76, and Medtronic, Inc. (MDT) 1.23 to 37.41.

Other stocks of note included Accenture plc (ACN), up 3.66 to 50.33. Amarin Corporation plc (AMRN) advanced 79 cents to 7.14, a small-price gainer, and YRC Worldwide Inc. (YRCW) 47 cents to 3.81.

In addition, Spreadtrum Communications Inc. (SPRD) was up 64 cents to 17.98, Jazz Pharmaceuticals, Inc. (JAZZ) 48 cents to 19.04, Sonic Corp. (SONC) 85 cents to 10.44, Sangamo Biosciences Inc. (SGMO) 35 cents to 6.40, Advanced Energy Industries, Inc. (AEIS) 1.19 to 14.00, Allot Communications Ltd. (ALLT) 88 cents to 9.89, Exelixis, Inc. (EXEL) 58 cents to 8.79, VIVUS Inc. (VVUS) jumped 31 cents to 9.79, China Digital TV Holding Co., Ltd. (STV) 41 cents to 9.19, and EnteroMedics, Inc. (ETRM) 29 cents to 2.84.

There were many other stocks too numerous to mention but a lot of gainers today on our board.

On the downside, there were no point-plus losers to speak of; however, there were quite a few fractional losers but nothing significant.

Stepping back and reviewing the hourly chart patterns, the indices backed and filled during the morning, rallied midday to reach the session highs just after lunch hour, and then rolled over in the afternoon only to bounce into the close and end up mixed on the session.

As for the week, though, it was a very positive for many of our stock picks.

Harry Boxer is a technical consultant to many Wall Street hedge funds and large institutional traders, and author of TheTechTrader.com.